The Scoop #10: Another Chill Hitting the Tech Market

A hiring freeze at Meta, Cameo layoffs and the Ukraine job market slowly bouncing back

The Scoop is a bonus series, covering patterns and trends I’ve heard within big tech and high-growth startups.

Summer is soon upon us, and yet the tech market has not felt this chilly in a long time. Topics we cover today:

• A hiring freeze at Facebook / Meta. Until the end of the year. Ouch.

• Layoffs at Cameo. This one impacts engineering as well.

• Offers rescinded in the US Bay Area. Can we draw any conclusions from companies walking back on a few offers in this high-cost region?

• The Ukraine tech job market. Following the job market shrinking, growth seems to be picking up. What does this tell us about how heated the European job market is?

• A tech brain drain in Russia. A large number of tech professionals have moved out of Russia. What will this mean for the industry?

• What does the cooling job market mean? For those working in tech, for those considering the next move, and for hiring managers?